Logitech (LOGI) Acquires LifeSize Comm for $405M
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After the close, Logitech International (Nasdaq: LOGI) announced that it has agreed to acquire privately held LifeSize Communications of Austin, Texas for $405 million in cash.
LifeSize is a global leader in high definition (HD) video communication solutions, with more than 9,000 video conferencing customers across 80 countries in large enterprises, small-to-medium businesses (SMBs) and public healthcare, education and government organizations.
LifeSize expects approximately $90 million in revenue in CY 2009, with CY 2010 revenue expected to grow between 40 percent and 60 percent. Logitech expects the acquisition to be neutral to slightly positive to its operating income (excluding acquisition-related charges) in FY 2011, ending March 31, 2011, and positive thereafter.
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